Do you want to start your micro, small or medium enterprise (MSME) in India? If yes, then follow these simple steps to launch your MSME business successfully.
1. Check Eligibility
Make sure your business meets the criteria for MSMEs in India. The criteria are based on the investment and turnover of your business. You can find the details in the table below.
2. Register Online
Register your business as an MSME on the Udyam Registration Portal. You only need your Aadhaar number, PAN number, GST number (if any), bank account details, and some basic information about your business. You will get an e-certificate of Udyam Registration with a unique number.
3. Provide Business Details
Provide some additional details about your business on the Udyam Registration Portal. These include the type, activity, location, employees, and date of commencement of your business. These details will help the government to design and implement various schemes and policies for MSMEs.
4. Get Udyam e-Registration Certificate
Get an Udyam e-Registration Certificate on your email ID. This certificate is valid for a lifetime and does not require any renewal. It contains information about your business and your MSME status. You can use it as a proof of your MSME status and avail various benefits and incentives.
5. Explore Government Benefits
Explore the various benefits and incentives offered by the central and state governments for MSMEs on https://www.msme.gov.in/ . These include loans, subsidies, tax exemptions, priority sector lending, protection from delayed payments, reservation and preference in government procurement and tenders, technology upgradation, skill development, marketing and export promotion, infrastructure and cluster development, and social security and welfare schemes. You can apply for these benefits with your Udyam Registration Certificate and other relevant documents.
6. Register on GeM
Register on the Government e-Marketplace (GeM). GeM is an online platform that facilitates the procurement of goods and services by the government departments and public sector units. You can register as a seller or a service provider on GeM and showcase your products and services to a large number of buyers. You can also participate in bids and reverse auctions and get access to a transparent and competitive market.
7. Avail Financial Facilities
Avail the various financial facilities available for MSMEs in India. These include MSME loans, MSME schemes, and MSME funds. These facilities provide equity and debt funding to MSMEs for various purposes such as working capital, term loans, equipment finance, expansion, diversification, etc. You can apply for these facilities online or offline with your Udyam Registration Certificate, business plan, financial statements, and other documents .
8. Stay Compliant
Stay compliant with the various laws and regulations applicable to your business. These include tax laws, labour laws, environmental laws, and other laws. You need to file your returns, pay your taxes, register your establishment, maintain proper books of accounts and records, obtain the necessary permissions, licenses, and clearances, adopt eco-friendly practices and measures, and protect your rights and interests as well as those of your customers and stakeholders.
9. Get Digitally Visible
Boost your MSME’s online presence through strategic digital marketing. Engage your audience on social media, optimize your website for search engines, and establish credibility in the digital world with Bharat Udyog Gaurav (BUG)
